By Susanna Moon
Chicago, Aug. 14 – Strawberry Fields REIT LLC said it issued another $34 million of its series B debentures listed on the Tel Aviv Stock Exchange by way of a private placement.
The closing interest rate for the debentures was set at 6.55%, according to a notice.
Proceeds will be used for the acquisition of new properties.
In April, the company said it issued $67 million of the series B bonds, which are secured by mortgages on 16 of its properties.
Since November 2015 the company has sold $110 million of unsecured series A bonds.
The investors of both series of bonds are primarily nostro accounts held by banks, insurance companies and provident funds but also include other institutional investors, the company added.
“We were pleased to secure this increase as it will enable us to continue to execute on our strategy to acquire and improve nursing homes, and long-term acute care hospital facilities,” Moishe Gubin, chief executive officer of Strawberry Fields, said in the press release.
South Bend, Ind.-based Strawberry Fields (/A/) owns and leases nursing homes, long-term acute care hospital facilities and medical office buildings.
| Issuer: | Strawberry Fields REIT LLC
|
| Issue: | Series B debentures
|
| Amount: | $34 million add-on
|
| Coupon: | 6.55%
|
| Distribution: | Private placement
|
| Announcement date: | Aug. 14
|
| Previous issuance: | $67 million of notes issued in April
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